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Scotia Plaza
KingSett Capital and AIMCo yesterday confirmed their acquisition of a 50% ownership interest in Scotia Plaza (plus 100 Yonge St) from Dream Office REIT and H&R REIT. KingSett and AIMCo took a 16.67% stake from Dream and will concurrently acquire H&R's 33.33% interest. Dream Office chair Michael Cooper says his firm looks forward to jointly owning and improving “one of the best assets in Canada” (the iconic bank tower's $1.3B sale in 2012 was the nation’s biggest-ever CRE deal). KingSett managing partner Jon Love adds his team is committed to the “irreplaceable” asset’s long-term success.
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